Florida Senate - 2021                                    SB 2002
       
       
        
       By Senator Taddeo
       
       
       
       
       
       40-01850B-21                                          20212002__
    1                        A bill to be entitled                      
    2         An act relating to the Florida Commercial Rent
    3         Stabilization Fund; creating s. 83.272, F.S.; creating
    4         the Florida Commercial Rent Stabilization Fund as a
    5         separate account within the Economic Development Trust
    6         Fund; providing definitions; providing conditions for
    7         relief from the fund; providing for payment, subject
    8         to availability, from the fund; providing liability;
    9         prohibiting a landlord from filing an action for
   10         possession for a certain period of time; authorizing
   11         the Department of Economic Opportunity to adopt rules;
   12         providing an appropriation; requiring certain funds
   13         remaining in the Florida Commercial Rent Stabilization
   14         Fund to be transferred to the General Revenue Fund;
   15         providing an effective date.
   16          
   17  Be It Enacted by the Legislature of the State of Florida:
   18  
   19         Section 1. Section 83.272, Florida Statutes, is created to
   20  read:
   21         83.272Florida Commercial Rent Stabilization Fund.—There is
   22  created the Florida Commercial Rent Stabilization Fund as a
   23  separate account in the Economic Development Trust Fund.
   24         (1)For purposes of this section, the term:
   25         (a)“Assistance period” means the period of time during
   26  which Executive Order 20-52 is in effect, including any
   27  amendments or extensions thereof, or through December 31, 2021,
   28  whichever period is longer.
   29         (b)“Department” means the Department of Economic
   30  Opportunity.
   31         (c)“Small business tenant” means a business that:
   32         1.Makes less than $250,000 in annual net profits.
   33         2.Has experienced a decline in revenues of 25 percent or
   34  more because of COVID-19.
   35         3.Has paid, or has agreed to pay, the tenant portion
   36  amount in a given month towards the rent due.
   37         4.Was in operation on or before February 15, 2020.
   38         (d)“Tenant portion” means 25 percent of a tenant’s monthly
   39  rent that has accrued during the assistance period.
   40         (2)A small business tenant or a landlord may file an
   41  application for relief under the Florida Commercial Rent
   42  Stabilization Fund with the department.
   43         (3)The department shall notify the landlord upon approval
   44  of an application, whether filed by a small business tenant or a
   45  landlord, and in order to receive payment from the department
   46  the landlord must provide an affidavit to the department stating
   47  that he or she:
   48         (a)Will forgive 25 percent of the small business tenant’s
   49  rent which has accrued during the assistance period and up to
   50  the approval date of the application for relief.
   51         (b)Will not collect any forgiven rent as a debt against
   52  the small business tenant or personally against the owner of the
   53  small business tenant.
   54         (c)Will not apply a security deposit or any other funds
   55  held on behalf of the small business tenant to cover the
   56  forgiven rent.
   57         (d)Will not initiate or file an action for possession for
   58  the forgiven rent amount during the assistance period.
   59         (e)Will dismiss with prejudice any action for possession
   60  that the landlord commenced before being approved for relief
   61  under the Florida Commercial Rent Stabilization Fund.
   62         (4)Within 30 days after a landlord has been approved under
   63  this section and submitted the affidavit agreed to under
   64  subsection (3), and subject to the availability of funds, the
   65  department shall pay the landlord the amount of the past rent
   66  that has accrued during the assistance period and up to the
   67  approval date of the application for relief, less the portion
   68  forgiven by the landlord and the tenant portion that has been
   69  paid. Payments made under this section constitute full and final
   70  payment of the small business tenant’s rental obligations during
   71  the assistance period and up to the approval date of the
   72  application for relief.
   73         (5)The affidavit agreed to under subsection (3) remains in
   74  effect through the end of the assistance period, even if the
   75  Florida Commercial Rent Stabilization Fund is depleted before
   76  that time.
   77         (6)A small business tenant may be liable to the landlord
   78  for the amount calculated under subsection (4) if the Florida
   79  Commercial Rent Stabilization Fund is depleted.
   80         (7)A landlord may not initiate or file an action for
   81  possession against a small business tenant relating to past due
   82  rent until 90 days after the end of the assistance period.
   83         (8)The department may adopt rules to implement and
   84  administer this section.
   85         Section 2. For the 2021-2022 fiscal year, the sum of
   86  $543,000,000 in nonrecurring funds is appropriated from the
   87  General Revenue Fund to the Florida Commercial Rent
   88  Stabilization Fund created under s. 83.272, Florida Statutes.
   89  Any funds remaining in the Florida Commercial Rent Stabilization
   90  Fund 60 days after the assistance period, as defined in s.
   91  83.272(1), Florida Statutes, ends shall be transferred to the
   92  General Revenue Fund.
   93         Section 3. This act shall take effect upon becoming a law.